Fossil Group (FOSL) Reports Q1 Earnings, Stock Tanks On Weak Guidance

Fossil Group (FOSL) just released its first quarter fiscal 2016 earnings results, posting earnings of $0.20 per share and revenue of $659.8 million.

Currently, FOSL has a Zacks Rank #4 (Sell), but it is subject to change following the release of the company’s latest earnings report. Here are 5 key statistics from this just announced report below.

Fossil Group:                        

1. Beat earnings estimates. The company posted earnings of 20 cents per share (excluding 8 cents from non-recurring items), beating our Zacks Consensus Estimate of $0.14.

2. Missed revenue estimates. The company saw revenue figures of $659.8 million, missing our estimate of $668 million.  

3. According to the report, Fossil expects net sales to decrease in the range of 5% to 1.5% for fiscal 2016.

4. Fossil also updated its earnings guidance for fiscal 2016 and now expects an annual EPS in the range of $1.80 to $2.80. Currently, the average estimate sits at $2.91.

5. FOSL was down $10.40, or 25.81%, to $29.75 as of 4:30 PM ET in after hours trading shortly after its earnings report was released.

Here’s a graph that looks at FOSL’s latest earnings performance:

 

 

Check back later for our full analysis on Fossil Group’s latest quarterly earnings report!

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